Tokyo stocks plunge over US recession fears

Tokyo stocks plunged on Monday, following a sharp drop in US stocks amid growing concerns over a potential economic slowdown.

The benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, closed at 35,617.56, down 1,502.77 points, or 4.05 percent from the previous trading day.

At one point, the index fell more than 1,570 points, reaching its lowest closing level in more than seven months since August 2024.

Market sentiment has weakened after reports that US President Donald Trump said that his administration's upcoming tariffs would apply to all countries and regions.

Analysts warned that until the full scope of Trump's tariff policies becomes clear, Japanese stocks are likely to remain under pressure.

The broader Tokyo Stock Price Index (TOPIX) also declined, losing 98.52 points, or 3.57 percent to close at 2,658.73.

On the Prime Market, declining stocks outnumbered gainers by 1,575 to 52, while 10 stocks remained unchanged.